Healthcare Contract Research Organization Market Share, Sourcing Strategy and Downstream Buyers 2022-2030

Healthcare Contract Research Organization Industry Overview

The global healthcare contract research organization market size was valued at USD 42.3 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030.

The increasing investment in R&D programs, preference for outsourcing activities due to time and cost constraints, and patent expiration in the healthcare sector are key factors anticipated to drive the market in the coming years. Contract research outsourcing collaborations offer cutting-edge services and thus government organizations prefer assigning projects to CROs, thereby facilitating the market growth.

Gather more insights about the market drivers, restrains and growth of the Global Healthcare Contract Research Organization Market

Increasing pressure on drug developers pertaining to clinical data management, regulatory environments, and stringent safety standards are the factors expected to drive demand for contract research organizations within the healthcare sector. Healthcare and pharmaceutical companies are not only outsourcing the production of medicines but also their clinical trials. With increasing clinical trial privatization, there is a surge in outsourcing to developing countries. Many healthcare contract research organizations are now enhancing their global research network in order to provide better services to their customers. For instance, in September 2020, ICON announced the launch of Accellacare, a global research network offering patients easier and faster access to innovative treatments, thus providing customers the option to deploy decentralized trials.

The outbreak of the COVID-19 pandemic has significantly hampered the healthcare contract research organization industry growth. Factors such as shortage of patients and temporary closure of clinical trial operating sites have negatively impacted the market for healthcare contract research organizations. However, this crisis created a need for virtual trials and leveraging technology and software solutions. Increasing adoption of machine learning-based platforms, artificial intelligence, and innovative trial designs are projected to transform the contract research organization landscape in the coming years. The pandemic had created an urgent demand for COVID-19 treatment. Owing to which various market players had adopted several partnership strategies to speed up the vaccine development process.

For instance, in July 2021, a contract research organization, QPS, partnered with Medigen Vaccine Biologics Corporation for completing the toxicology studies required to start the development of a vaccine against COVID-19. Such strategies are likely to have a positive impact on the growth of the market for healthcare contract research organizations. However, issues related to the intellectual property rights, and service quality issues of contract research organizations are likely to restrain the growth of the market for healthcare contract research organizations to some extent.

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Healthcare Contract Research Organization Market Segmentation

Grand View Research has segmented the global healthcare Contract Research Organization (CRO) market on the basis of type, service, and region:

  • Healthcare Contract Research Organization (CRO) Type Outlook (Revenue, USD Million, 2018 – 2030)
    • Drug Discovery
      • Target Validation
      • Lead Identification
      • Lead Optimization
    • Pre-clinical
    • Clinical
      • Phase I Trial Services
      • Phase II Trial Services
      • Phase III Trial Services
      • Phase IV Trial Services
    • Healthcare Contract Research Organization (CRO) Service Outlook (Revenue, USD Million, 2018 – 2030)
      • Project Management/Clinical Supply Management
      • Data Management
      • Regulatory/Medical Affairs
      • Medical Writing
      • Clinical Monitoring
      • Quality Management/ Assurance
      • Bio-statistics
      • Investigator Payments
      • Laboratory
      • Patient and Site Recruitment
      • Technology
      • Others
    • Healthcare Contract Research Organization (CRO) Regional Outlook (Revenue, USD Million, 2018- 2030)
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • MEA

Market Share Insights

  • March 2020: PRA Health Sciences declared the expansion of its Mobile Health Platform for clinical monitoring as a response to the ongoing global pandemic. This action was taken by the company to provide virtual study support to the sponsors in the COVID-19 pandemic.
  • December 2020: IQVIA collaborated with Servier, an independent international pharma company, to reinvent their processes of R&D clinical development as well as support their long-term R&D success. 

Key Companies profiled:

Some prominent players in the Healthcare Contract Research Organization market include

  • IQVIA
  • LabCorp
  • Thermo Fisher Scientific
  • PAREXEL International Corporation
  • Charles River Laboratories (CRL)
  • ICON plc
  • Medidata Solutions
  • Syneos Health
  • Pharmaron
  • GVK Biosciences Private Limited

Order a free sample PDF of the Healthcare Contract Research Organization Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Healthcare Contract Research Organization Industry Overview The global healthcare contract research organization market size was valued at USD 42.3 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030. The increasing investment in R&D programs, preference for outsourcing activities due to time and cost constraints,…

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